RIM paid Nokia $65 million as part of settlement

RIM paid Nokia $65 million as part of settlement
Last Friday we told you that Nokia and RIM had entered into a global agreement that would end current patent-related lawsuits in progress between the two firms in the U.S.,U.K.  and Canada. And while it was announced that RIM would be paying a licensing free to Nokia, the amount of that payment was not disclosed until RIM filed its FORM 6-K with the SEC related to the recent release of its quarterly earnings report. Both firms have shares that trade in U.S. markets requiring both companies to keep up with SEC mandated paperwork.

According to RIM's FORM 6-K, a one time payment in the amount of 50 million EUR ($65 million USD) was made from RIM to Nokia as part of the settlement. No other financial terms were disclosed in the form and we will have to wait for the same form to be filed by RIM next year to see if there are any annual payments to be made to Nokia besides the lump sum amount.

We are now approaching the one month countdown until the January 30th introduction of the new BlackBerry 10 OS, which might represent RIM's last chance to compete with iOS and Android.


source:SEC via WMPoweruser

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